Cryptocurrency exchange founder Sam Bankman-Freed on trial for massive fraud

The trial against Sam Bankman-Freed, founder of the cryptocurrency exchange FTX, has begun. Bankman-Freed is accused of orchestrating a massive fraud on FTX customers, with billions allegedly missing from the exchange's balance sheet. The defense strategy argues that Bankman-Freed was a young entrepreneur trying to build a crypto empire and that the downturn in the market blindsided him. The trial will feature witnesses who have pleaded guilty and cooperated with the government, including Bankman-Freed's former girlfriend, who was the CEO of FTX's sister company where customer deposits allegedly ended up.